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Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: The last thing I want to ask you is-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Or 2002?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: That's fair enough. You've made that clear.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: I don't think you can. You can try. I can tell you I know nothing about this. I know that there's allegations that have been made before a committee.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: I have no understanding of who the whistleblower was in 2004 to the Financial Regulator or, indeed, to RTE, which exposed this programme to the nation and I believe resulted in, the following day, a formal inspection of AIB. My concern is the testimony that's been given to an Oireachtas committee here, which states categorically that you were put on notice of not just the events, not the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Go raibh maith agat, a Chathaoirligh. Fáilte roimh an tUasal Patterson. I'm glad to see you're in good health before us today. Can I ask you just in terms of some of the dates? You retired from the board in April of 2008, is that correct? And you mentioned to us that you were in a ... you were ill for a period and I don't want to intrude in relation to that. But can you ... were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay ... okay. In relation to your own experience and skills, did you have the necessary experience and skills to become the chairperson of the board from 2003 onwards?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: That's ... I appreciate that. And that's what happened at the time. You gave your reflections to the committee in relation to how a board should be constituted in terms of experience and skills based on hindsight, based on where you are today. Based on where you are today, looking at your own position, did you have the necessary experience and skills to fulfil the role that you were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay. You've mentioned, and, indeed, Deputy O'Donnell has mentioned it, but you've mentioned it in response to myself in terms of that ... that dinner they ... what's been dubbed as the "bankers' last supper". Can you just explain to me how that came about? Who made the phone call? Did somebody phone you and say, "We have an idea of bringing all the chief executives together to have...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: So months after you retired but ... which is April, but before the guarantee which is September.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Did he ... did he mention that he was planning to invite the likes of David Drumm and Eugene Sheehy and Richie Boucher? Did he tell you that these-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: No, I think some of them didn't turn up-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay, did he suggest ...did you ask who would be there or?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: No, just turn up on the night-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: See who was there, okay. It's reported that you defended your ... you defended your role as chairperson of ... of the authority at that dinner.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay, so there was no speeches and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Pearse Doherty: Okay. Listen, we'll move on from that. I don't think it's the burning issue here. One of the statutory objectives of the Central Bank is the promotion of the financial services industry in Ireland. In your view, was there a conflict between the objectives of the Financial Regulator and the responsibility for prudential supervision?

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